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FOX News
Jan 14, 2013 8:00am PST
way out. in this case the president really wants to stay on offense on the debt ceiling. we know we will have a major clash between him and house republicans and senate republicans on the debt ceiling. the debt ceiling senate wants a bill giving him a clean increase in the nation's borrowing limit. republicans want spending cuts and probably entitlement reform in exchange for granting that. he had the upper hand politically in part because he defined the terrain in this rhetorically and you think he wants to continue that. jon: second terms generally have not been kind to incumbent presidents. george w. bush tried to reform social security. got shot down. there were problems with the federal response to hurricane katrina there was the iraq war. you also had, you know, bill clinton everybody remembers, what happened in his second term. what are the potential problems that lie ahead for this president? >> well, i think any president who wins a second term clearly wants to fet -- get a lot accomplished. they feel freed up to do the things they hope they wanted to do, they figure voters endorsed them and endorsed everything they said they were going to do. that is actually not the case. a lot of times voters decided they like the
FOX Business
Jan 14, 2013 11:00am EST
very ugly. president obama is locked into a position that he is not negotiating and the debt ceiling may go out. i think we are set. connell: dagen mentioned the former president bill clinton. if he were an office, he would bring you and. if he had this position and he said he will not negotiate, what would you tell him? >> i would say the american people want more. it is right that if we defaulted and i hope that does not happen, the republicans would be blamed. the president's approach is much more conciliatory than this process. dagen: if the democrats are winning every battle, why on the flip side, are losing everyone? how do they find some middle ground? >> first, the republican party it self is deeply divided. [ laughter ] we heard from: powell yesterday and even if that may be an overstatement, it certainly reflects the view of someone who is a preeminent republican. connell: the last time, we could afford to go over the cliff if we had to, it would not have been the end of time. you are playing with fire. >> you sure are. that is what the president will use and hold over the republicans. that they are playing with fire. the president is, unfortunately, in my view,
CNN
Jan 14, 2013 9:00am PST
congress either give me the authority to raise the debt ceiling or exercise the responsibility that they have kept for themselves and raise the debt ceiling. because this is about paying your bills. everybody here understands this. i mean, this is not a complicated concept. you don't go out to dinner and then, you know, eat all you want, and then leave without paying the check. and if you do, you're breaking the law. and congress should think about it the same way the american people do. you don't -- now, if congress wants to have a debate about maybe we shouldn't go out to dinner next time, maybe we should go to a more modest restaurant, that's fine. that's the debate that we should have. but you don't say, in order for me to control my appetites, i'm going to not pay the people who already provided me services. people who already lent me the money. that's not showing any discipline. all that's doing is not meeting your obligations. you can't do that. and that's not a credible way to run this government. we've got to stop lurching from crisis to crisis to crisis when there's this clear path ahead of us, that simply requires some discipline, some responsibility, and some compromise. that's
CNN
Jan 14, 2013 8:00am PST
the nation's debt ceiling which we technically bumped into on new year's eve, they're using sort of bookkeeping mechanisms to deal with it. fiscal cliff showed on. he says congress has an obligation to pay all the bills it's already racked up, period. we'll be covering the president's news conference from both ends of pennsylvania avenue. i want to go to our chif business correspondent ali velshi. why this is so critical important? >> it's important and it's misrepresented so a lot of people all the way from politicians to people's financial advisors will tell you that it's a lot like your credit him or your line of credit. it's not like either of those things, it is a uniquely american phenomenon. most government in the world understand that once you decide to pay for something, once you decide to pass a bill that requires money, you're required to pay for it. in the united states what used to happen is that if there's a deficit, the treasury would have to issue a bond to pay for every sepgal piece of law. pay for things congress has already committed to. they wouldn't have to go back every time. it was meant to make it easier for treasury. it was never meant to be a debt control or spending control mech
ABC
Jan 14, 2013 7:00am PST
ceiling is not a question of authorizing more spending. raising the debt ceiling does not authorize more spending. it simply allows the country to pay for spending that congress has already committed to. these are bills that have already been racked up. and we need to pay them. so while i'm willing to compromise and find common ground over how to reduce our deficit, america can't afford another debate with this congress whether or not they should pay the bills they already racked up. if congressional republicans refuse to pay america's bills on time, social security checks and veterans benefits will be delayed. we might not be able to pay our troops and honor our contracts with small business owners. food inspectors, air traffic controllers, wouldn't get their paychecks. invest ors around the world will ask if america is a safe bet? markets could go haywire, interest rates would spike. every student can a college loan, every small business owner who wants to hire, it would be a self-inflicted wound on the economy. it would slow down our growth, might tip us into a recession. and ironically would probably increase our deficit. so, even to entertain the idea of this happening of the united states of the ame
CBS
Jan 14, 2013 7:00am PST
the first one ended, with a battle over the budget and raising the debt ceiling. so the federal government can borrow money that it needs to pay its bills. the deadline for that is coming up late next month. another issue sure to be raised today is gun violence. vice president biden was assigned to come up with recommendations for cushing gun violence after the deadly school shooting in connecticut. he will be delivering those recommendations to the president tomorrow. right now, our chief white house correspondent, major garrett is in the east room as we await the president. major, what do you expect? >> scott the president will open up with remarks about three to five minutes about the debt ceiling. it's an issue that's been with the president throughout his presidency. he's worked with congress four times to raise it the first time with the stimulus law in 2009, but this time, the president said he has no intention of negotiating with republicans in congress about whether to raise the debt ceiling, saying it's their obligation, not his. another issue clearly to come up will be gun violence. the vice president, joe biden, presents his reco
CSPAN
Jan 14, 2013 10:00am EST
ago. the debt ceiling is not a question of authorizing more spending. raising the debt ceiling does not authorize more spending. it simply allows the country to pay for spending that congress has already committed to. these are bills that have party been racked up, and we need to pay them. so while i am willing to compromise and find common ground for how to reduce the deficits, america cannot afford another debate with this congress about whether or not they should pay the bills they have already racked up. if congressional republicans refuse to pay america's bills on time, social security checks, veterans benefits will be delayed. we might not be able to pay our troops or honor our contracts with small-business owners. food inspectors, air traffic controllers, specialists who track down loose nuclear materials would not get their paychecks. investors around the world will ask if the united states of america is in fact a safe bet. markets could go haywire. interest rates would spike for anyone who borrowed money. every homeowner with a mortgage, every student with the business -- every student with the student loan. it would be a self-inflected wounds on the economy. it would slow down our growth. it might put us into
FOX News
Jan 14, 2013 1:00pm PST
dealing with the core issue. the core issue is what the congress agrees to spend. all the debt ceiling is paying our bills. the cow is out of barn. let's allow us to let any business would do which is pay your bills. >> neil: why is wall street not worried about this. all your worries were trumpeted, why is the street not worried? >> i think we have learned to live in this environment. the reality is we have accepted what appears to be kick the can down the street politics. >> neil: what would you and your fellow ceos do and have a credible debt fix, you probably would have a heart attack, but what would you do? >> it would allow us to feel more secure where we're going. we need to know the rules of the game. that is what we're asking for. i think we as citizens and not business people first. the reality is we know the problems, debt and immigration and reality as a nation when we compete against nation states, how are we going to compete if we can't solve these problems? the issue is not the debt ceiling. the issue is the fundamental core problems of the country and the inability of our congressional leaders
MSNBC
Jan 14, 2013 8:00am PST
this. the debt ceiling is not a question of authorizing more spending. raising the debt ceiling does not authorize more spending. it simply allows the country to pay for spending that congress has already committed to. these are bills that have already been racked up, and we need to pay them. so while i'm willing to compromise and find common ground over how to reduce our deficits, america cannot afford another debate with this congress about whether or not they should pay the bills they've already racked up. if congressional republicans refuse to pay america's bills on time, social security checks and veterans benefits will be delayed. we might not be able to pay our troops or honor our contracts with small business owners, food inspectors, air traffic controllers, specialists who track down loose nuclear materials wouldn't get their paychecks. investors around the world will ask if the united states of america is, in fact, a safe bet. markets could go haywire, interest rates would spike for anybody who borrows money, every homeowner with a mortgage, every student with a college loan, every small business owner who wants to grow and hire. it would be a self-inflicted wound on the economy. it would slow down our growth.
CSPAN
Jan 14, 2013 12:00pm EST
to raise the debt ceiling, or exercise the responsibility that they have kept for themselves and raise the debt ceiling, because this is about paying the bills. this is not a complicated concept. you do not go out to dinner and then eat all you want and then leave without paying the check. if you do, you are breaking the law. congress should think about the same way the american people do. if congress wants to say maybe we should go to a more modest restaurant, that's fine. in order to curb our appetite, we're not going to pay the people who already provided the insurance, already front of the money. that is not showing any discipline. that is just not meeting obligations. you cannot do that. that is not a credible way to run the government. we cannot going from crisis to crisis when there is a path in front of us that require stability and compromise. that's how this goes. that is how this needs to work. >> thank you, mr. president. binding votes for the debt ceiling can sometimes be complicated. in previous aspects of american history, president reagan, president h. w. bush, president clinton all signed debt reduction deals. you have done this t
MSNBC
Jan 14, 2013 1:00pm PST
republicans spoiling for a fight over the debt ceiling, the president squarely refused to do the default dance saying congress needs to quit playing games, do its job, and allow the nation to pay its bills. >> that's not showing any discipline. all that's doing is not meeting your obligations, and that's not a credible way to run this government. we've got to stop lurching from crisis to crisis to crisis. >> the president warned republicans to act responsibly on the debt ceiling or risk sending the nation through another economic crisis. but it was on the issue of gun violence that the president most vigorously demanded that congress act on its conscience, exactly one month after the tragedy at sandy hook. >> my starting point is to focus on what makes sense, what works. if, in fact, and i believe this is true, everybody across party lines was as deeply moved and saddened as i was by what happened in newtown, then we're going to have to vote based on what we think is best. >> but, unfortunately, that may be some wishful thinking. as the president admitted to facing forceful opposition that may not have our children's best interests at heart. >> those who oppose any common sense gun control or gun
KOFY
Jan 14, 2013 11:30am PST
to allow more borrowing authority up against the debt ceiling. >> raising the debt ceiling does not authorize us to spend more. all it does is say that america will pay its bills. we are not a deadbeat nation. >> house republicans want spending cuts as part of a deal to lift the debt ceiling. without an agreement the country has until around march 1 before it may not be able to meet financial obligations. >> today is the one month anniversary of the deadly school shooting in newtown, connecticut. in washington, bay area members are among the group of democrats meeting with vice president biden about gun control. the vice president could turn over his proposals to president obama as early as tomorrow. >> a month ago today, the shooting massacre at sandy hook elementary school shocked the nation. and re-ignited a fierce battle over america's relationship with guns. tomorrow, vice president biden will recommend a robust gun control game plan to president obama including stronger background checks for all gun purchases, a ban on high capacity magazine clips, and a renewed ban on assault weapons. >> my starting point is not to worry about the politics but to focus on w
ABC
Jan 14, 2013 11:00am PST
economy and calling on congress to allow more borrowing authority up against the debt ceiling. >> raising the debt ceiling does not authorize us to spend more. all it does is say that america will pay its bills. we are not a deadbeat nation. >> house republicans want spending cuts as part of a deal to lift the debt ceiling. without an agreement the country has until around march 1 before it may not be able to meet financial obligations. >> today is the one month anniversary of the deadly school shooting in newtown, connecticut. in washington, bay area members are among the group of democrats meeting with vice president biden about gun control. the vice president could turn over his proposals to president obama as early as tomorrow. >> a month ago today, the shooting massacre at sandy hook elementary school shocked the nation. and re-ignited a fierce battle over america's relationship with guns. tomorrow, vice president biden will recommend a robust gun control game plan to president obama including stronger background checks for all gun purchases, a ban on high capacity magazine clips, and a renewed ban on assault weapons. >> my starting point is not to worry about the politics but to focus on w
FOX
Jan 14, 2013 7:00am PST
spending. raising the debt ceiling does not authorize more spending. it aallows the -- it allows the country to pay for spending that congress has already attended to. these are bills that we need to pay. so while i'm willing to compromise and find common ground over how to reduce our deficits, america cannot afford another debate with congress about whether or not they should pay the bills they've already racked up. if congress am republicans refuse to pay america's bills on time, social security and veterans benefits will be delayed. we might not be able to pay our troops, small business owners, food inspectors, air traffic controllers, specialists who track down loose nuclear materials wouldn't get their paychecks. investors around the world will ask if the united states of america is, in fact, a safe bet. markets could go haywire, interest rates would spike for everybody who borrows money, every homeowner, every student with a college loan. it would be a self-inflicted wound on the economy. it would slow down our growth, might tip us into recession and ironically would probably increase our deficit. so the united states america of two years its pills, that's ago, it
CSPAN
Jan 14, 2013 7:00am EST
decisions. some people have said the debt ceiling will not be breached until april. "why are you doing it so early?" as far as we know, this is when we expect the government to be unable to pay its bills on time. not just its interest payments. that is all of its debts. host: what is the treasury department telling you about these numbers? uest: secretary geithner's testimony has said it will be in that timeframe. will there be a delay in refunds to taxpayers? host: there are some other wild cards. one of the possible choices to raise money is the selling of assets by the government. talk about that as a possible way to raise money. guest: you could do that, a fire sale of a government assets. that seems extremely unlikely and no one has taken that idea seriously. that's like the platinum coin. host: david is waiting from florida. you're wrong with mr. bell. caller: how are you doing this morning? i don't think the debt ceiling will hit in a month. they'll adjust print more money. there was a sneaky trick back in 1933. taking birth certificates and putting them on the stock exchange. they would have to recall their collateral. the american people are the collateral. they are going to pri
MSNBC
Jan 14, 2013 9:00am PST
, credible solution other than congress either give me the authority to raise the debt ceiling or exercise the responsibility that they have kept for themselves and raise the debt ceiling because this is about paying your bills. everybody -- everybody here understands this. i mean, this is not a complicated concept. you don't go out to dinner and eat all you want and then leave without paying the check. if you do, you're breaking the law. congress should think about it the same way that the american people do. now, if congress wants to have a debate about maybe we shouldn't go out to dinner next time, maybe we should go to a more modest restaurant, that's fine. that's a debate that we should have. but you don't say in order for me to control my appetites, i'm going to not pay the people who already provided me services. it's not meeting your obligations. you can't do that. that's not a credible way to run this government. we've got to stop lurching from crisis to crisis to crisis when there's this clear path ahead of us that simply requires some discipline, some responsibility, and some compromise. that's where we need to go. that's how this needs to work. major garrett. >> thank you, mr. president. as you well know, s
FOX News
Jan 14, 2013 12:00pm PST
new york city. president obama is warning that a political deadlock over the nation's debt ceiling could damage the u.s. economy and beyond. it's estimated without the deal the government could run out of money to pail its bills as early as mid-february. the president said the idea of refusing to raise the debt ceiling is irresponsible and absurd. >> republicans in congress have two choices here. they can act responsibly and pay america's bills are act irresponsibly and put america through another economic crisis. but they will not collect a ransom for not crashing the american economy. >> shep: they say they won't support raising the debt limit and there a battle line. the debt ceiling is the maximum amount of money that the united states can borrow. the law requires congress to control and authorize any money needed to pay for federal programs. debt ceiling was introduced way back in world war one. it was meant to give the treasury department more spending at that time. wendall goler, the president seemed that he was willing to call the republicans' bluff on this thing. >> he won't collect ransom for not collecting it on the economy. the last time the country reached the debt ceiling, obama was thinking about
FOX News
Jan 14, 2013 3:00pm PST
debt ceiling, the president told reporters is a necessity caused by spending in the past. not something to trade with congress for spending cuts in the future. >> they can act responsibility, and pay america's bills. or act irresponsibly and put america through economic crisis. >> treasury secretary geithner says accounting maneuvers let us hold out till march and obama suggested he is prepared to hold out longer by prioritizing what bills the government paid. >> social security checks and veteran benefits will be dela delayed. we might not pay the troop or honor contract. >> republicans reacted swif swiftly. john boehner said consequences of failing to increase the debt creeling are real but so, too, are the consequences of allowing our spending problem to go unresolved. the republicans challenge the notion that going through default. >> the default occurs if we don't pay interest that accrues on the national debt. that is not going to happen. we have enough revenue to cover that. >> looks at the void of series of spending cuts that kick in marm 1. it must refund most government programs by the end of the month. economic perfect storm and congressman says it comes at the perfect time for fiscal hous
MSNBC
Jan 14, 2013 12:00pm PST
blame on republicans, if people start to stop receiving checks, if we default on the debt ceiling or if it is not raised by republicans, he said if congressional republicans refuse to pay the bills on time, social security checks and veterans benefits delayed and trying to put this now in the hands of americans that they can add to the pressure on the republicans in congress. >> all right. nbc's peter alexander, thanks. let's bring it back to the table and spin on it, now. s.e. the president incorrect there. some people go to dinner and not pay. >> i'm thankful he broke it down. i didn't understand at all. >> supposed to drop the credit card or the cash at the end. >> now it makes sense. >> pay for what you buy. pay as you go basically in this capitalist economy. but it really -- i was hoping the president to drop the trillion dollar coin and give him some leverage, some power and kind of cool to see that happen. >> yes, and sounds very serious. >> sounds very serious and it's nice theatrics to it and disappointed once again paying politics with the economy and right refusing to work with him and party ahead of country. this is not way this is supposed to go down. >> i think to me
FOX Business
Jan 14, 2013 4:00pm EST
to early march says treasury. remember we technically hit the debt ceiling on new year's eve but treasury is undergoing what are known as extraordinary measures to keep paying the bills. this in a letter to speaker john boehner from the treasury department. treasury currently expects to exhaust these extraordinary measures between mid-february and early march of this year. any estimate however will be subject to a significant amount of uncertainty because we are entering the tax filing season. a warning to republicans saying threaten to undermind our credit worthiness is no less irresponsible than threatening to undermined the rule of law and no more legitimate than any other common demand for ransom. very similar to the tone and warning about i president obama earlier today in a news conference saying that the congress has ordered him to spend this money and therefore must raise the debt ceiling with no strings attach the. republicans say the president signing spending into law and more cases wanted more spending and it is irresponsible not to raise the debt ceiling but john boehner speaking in a statement, it is real the failure to address our spending problem. back to y
CBS
Jan 14, 2013 12:00pm PST
limit. >> raising the debt ceiling does not authorize us to spend more. all it does is say that america will pay its bills. and we are not a deadbeat nation. >> reporter: without a deal, the government could run out of money to pay its bills by late february or early march. but republican leaders are demanding significant spending cuts in exchange for any agreement to raise the debt ceiling. in a statement, senate minority leader mitch mcconnell says the debted limit is the time to get on reducing spending. gun control is also an issue. >> responsible gun owners, people who have a gun for protection, for hunting, for sportsmanship, uhm, they don't have anything to worry about. >> reporter: the national rifle association has already made clear, it has enough support in congress to block legislation that restricts gun ownership. >> i would say that the likelihood is that they are not going to be able to get an assault weapons ban through this congress. >> reporter: moderate lawmakers say there is a better chance of passing laws that limit the number of bullets in ammunition magazines and improve background check
CNBC
Jan 14, 2013 12:00pm EST
debt ceiling, or exercise the responsibility that they have kept for themselves and raise the debt ceiling. because this is about paying your bills. everybody here understands this. i mean this is not a complicated concept. you don't go out to dinner and then eat all you want and leave without paying the check. and if you do, you're breaking the law. and congress should think about it the same way the american people. you don't -- if congress wants to have a debate about maybe we shouldn't go out to dinner next time, maybe we should go to a more modest restaurant, that's fine. that's a debate that we should have. but you don't say in order for me to control my appetites i'm going to not pay the people who already provided me services. people who already lent me the money. that's not -- that's not showing any discipline. all that's doing is not meeting your obligations. you can't do that. and that's not a credible way to run this government. we've got to stopler muching from crisis to crisis to crisis when there's this crisis that requires some compromise. that's where we need to go. that's how this needs to work. >> thank you mr. president.
NBC
Jan 14, 2013 7:00am PST
americans hadn't even heard of before two years ago. i want to be clear about this. the debt ceiling is not a question of authorizing more spending. raising the debt ceiling does not authorize more spending. it simply allows the country to pay for spending that congress has already committed to. these are bills that have already been racked up. and we need to pay them. so while i'm willing to compromise and find common ground over how to reduce our deficits, america cannot afford another debate with this congress about whether or not they should pay the bills they've already racked up. congressional republicans refuse to pay america's bills on time, social security checks and veterans' benefits will be delayed. we might not be able to pay our troops or honor our contracts with small business owners. food inspectors, air traffic controllers, specialists who track down loose nuclear materials wouldn't get their paychecks. investors around the world will ask if the united states of america is, in fact, a safe bet. markets could go haywire, interest rates would spike for anybody who borrows money. every homeowner with a mortgage, every student with a college loan, every small business owner who wants to grow and hire. it would be a self-inflicted wound on the economy. it would slow down our growth, m
FOX Business
Jan 14, 2013 9:20am EST
republicans are ready to kill this congress. >> straighten something out. if we go over the debt ceiling, run -- >> we have already. >> we don't default, do we? we do not default. >> we don't ever really default. we can always continue to pay the bills, print the money. >> tax money comes in. >> talk politically. president obama will stump and campaign saying it will be unpay patriotic for the republicans to not raise a debt ceiling after he's already said it's unpatriotic to exceed the debt ceiling in 2007-2008. he's in a very, very tough place. i think the republicans in the house in congress will give him a hard time, won't make it an easy checkbook. they'll ask for something in return, not sure what it's going to be. they'll probably get it, some negotiation, but, again, we already exceed the debt ceiling. $16.4 trillion tim geithner, fudges numbers around, pay the bills until congress signs the increase in debt ceiling. >> a repeat of the fiscal cliff? >> that's what politics is in dc. this is all games, all threats, all the clock is ticking down. makes you worry if the country's going to default. >> eric, here's the thing -- >> at the end of the day, sorry -- >> yeah. at the enof the day, there's a deal. >> yeah, this is like the deb
CNBC
Jan 14, 2013 9:00am EST
two years ago. so i want to be clear about this. the debt ceiling is not a question of authorizing more spending. raising the debt ceiling does not authorize more spending. it simply allows the country to pay for spending that congress has already committed to. these are bills that have already been racked up and we need to pay them. so while i'm willing to compromise and find common ground over how to reduce our deficits, america cannot afford another debate with this congress about whether or not they should pay the bills they've already racked up. if congressional republicans refuse to pay america's bills on time, social security checks and veterans benefits will be delayed. we might not be able to pay our troops or honor our contracts with small business owners. food inspectors, air traffic controllers, specialists who track down loose nuclear materials wouldn't get their paychecks. investors around the world will ask if the united states of america is, in fact, a safe bet. markets could go haywire, interest rates would spike for anybody who borrows money. every homeowner with a mortgage, every student with a college loan, every small business owner who wants to grow and hire. it would be a self-inflicted wound on the economy. it would slow down our growth,
MSNBC
Jan 14, 2013 2:30am PST
the debt ceiling, the congressional budget office says the u.s. will only be able to pay bills until mid-february. measures may include invoking the 14th amendment which would theoretically allow the president to raise the borrowing limit without congressional approval. something the white house says it will not do and something the president believes he doesn't have the power to do. >>> yesterday paul krugman accused lawmakers of holding the country hostage. >> the debt ceiling is a fundamentally stupid but dangerous thing. we have congress that tells the president how much he must spend. tells him how much he's allowed to collect in taxes. he says there's a difference there. i have to borrow it. no, you can't borrow that. the whole debt ceiling thing itself is a crazy thing. it forces the president to do something illegal, either to defy congress on what it told him to spend or defy congress and borrow when it told him not to. >> krugman was one of the leading proponents of the trillion dollar coin idea which involved minting a platinum coin which would be deposited at the federal
CNBC
Jan 14, 2013 2:00pm EST
like that message either, but he said the idea that the debt ceiling could be used as ref wrath or a hostage situation to achieve a long-term debt solution is something he won't do. >> the united states of america not paying its bills, is irresponsible. it is absurd. as the speaker said two years ago pb it would be, and i'm quoting speaker boehner now, a financial disaster not just for us but for the worldwide economy. >> now what the president also challenged republicans to do was it come up with their own plan if they don't like his. house speaker boehner answered back very quickly and said the house republicans are going to do what responsible. we will keep the government running. meet our obligations and cut spending. so the question now, if the president is going to succeed as what we called breaking the habit, somebody has to break him. we will find out in a few weeks. we know the debt ceiling and extraordinary measures that the treasury is taking right now could be exhausted in as little as one month from now. >> coming down to the wire again. john harwood, thank you we much. >>> let's bring in our own steve liesman. column nest at the american institute of dan greenhouse. both are cnbc contributors. steve, firs
FOX Business
Jan 14, 2013 1:00pm EST
corner. melissa: he keeps bringing this argument on the debt ceiling i think is so false how we racked up the bills and how we're now trying to say we don't want to pay them. who would possibly issue you more credit when you haven't put forward a plan how you're going to spend within your means within the future? american dress will not raise your limit when you can't pay it simply because you want more credit? you need to have a workout plan to deal with your debt before someone will loan you more money. >> i love this nonsense that he is spewing about being, we're not a deadbeat nation. thank you, mr. president. god we're so thrilled to have your blessing on that reality. that kind of nonsenseal talk, nonsenseal, not common senseal talk, is really the stuff that doesn't belong in a white house. it doesn't belong in the discussion. we are a debtor nation. we have been a debtor nation for quite some time. the issue is how to change it. i love the capricious way, if the problem were just about reducing deficits. mr. president, that is exactly what it is about. it is about cutting spending. it is about g
MSNBC
Jan 14, 2013 10:00am PST
debt ceiling. >> the issue here is whether or not america pays its bills. we are not a deadbeat nation. >> taking a stand on the one-month anniversary of the newtown massacre. the families speak out. >> this is a promise to turn the conversation into actions. things must change. this is the time. this is a promise we make to our precious children because each child, every human life, is filled with promise, and though we continue to be filled with unbearable pain, we choose love, belief, and hope instead of anger. >> calling them out. tough words from former secretary of state general colin powell for his fellow republicans on race. >> there's also a dark vein of intolerance many some parts of the party. >> the end of the longest war and the man president obama has nominated to wind it down coming up. retired general stanley mcchrystal on chuck hagel. the exit strategy from afghanistan and his own career. >>> plus, show stopper. president clinton he should the standing ovation with his surprise appearance on "lincoln" at the golden globes. >> in "lincoln" we see a man more interesting
FOX
Jan 14, 2013 12:00pm PST
president said he wants to make it clear that raising the debt ceiling will not raise -- he warned that if congressional republicans fail to approve legislation to pay america's bills on time, everything from social security checks to veterans benefits could be delayed. >> last time they flirted with this delay our aaa credit rating was downgraded. our business have created the fewest jobs of any month in the past three years. and ironically the whole fiasco actually haded to the deaf -- actually added to the deficit. >> reporter: president obama is reviewing a list of proposals from joe biden about how to reduce gun violence. the two met earlier today to go over the vice president's recommendations over how to tighten tougher gun laws. among the proposals under consideration are a ban on assault weapons and high capacity ammunition clips. here in the bay area gun buy back is scheduled for tomorrow in marin city. the event offers gun owners $200 to turn in their semi automat weapons. and $100 for other guns. the guns can be brought to police stations in novato, san rafael, and point rays from 11:00 a.m. to 8:00 p.m. guns will be accepted from residents of marin, sonom
CNN
Jan 14, 2013 11:00am PST
spoke this morning, pushing for support on raising the debt ceiling. >> and republicans in congress have two choices here. they can act responsibly and pay america's bills, or they can act irresponsibly and put america through another economic crisis. but they will not collect a ransom in exchange for not crashing the american economy. the financial well-being of the american people is not leverage to be used. the full faith and credit of the united states of america is not a bargaining chip. and they better choose quickly because time is running short. >> so the president says there will be no ransom, you heard him say no bargaining chip in this whole debt ceiling debate. the deadline to raise that ceiling is approaching quickly. some members in congress say they're willing to shut down the government to avoid raising that limit now. joining me now is ben stein. nice to have you in person. >> honored to be here. i'm very sorry the weather is so cold here in l.a. we apologize. >> coldest day i hear in 21 years. >> least 21 years. >> so weather aside, let's talk about the debt ceiling. just for people to understand, this is not a matter of the government rai
MSNBC
Jan 14, 2013 2:00pm PST
what he had to say. >> raising the debt ceiling does not authorize more spending. it simply allows the country to pay for spending that congress has already committed to. if congressional republicans refuse to pay america's bills on time, social security checks and veterans' benefits will be delayed. we might not be able to pay our troops our honor our contracts with small business owners. markets could go haywire, interest rates would spike for anybody who borrows money, every home own we are a mortgage. it would be a self-inflicted wound on the economy. so to even entertain the idea of this happening, of the united states of america not paying its bills, is irresponsible. it's absurd. >> well, the president hass got to get past the debt ceiling in order to achieve his second term agenda but how does he do it when some republicans are threatening shutdown. chuck todd and howard fineman. chuck, you know, i get the sense i was listening to the late general schwarzkopf, the man shaping the battlefield. he's basically saying if this government gets shut down and we're not paying our bills, it's a decision by the republican-led house of representatives. he wants the story played that way. will the press or can it obj
PBS
Jan 14, 2013 3:00pm PST
today? he said this several times. he said this is not about we're doing the debt ceiling in order to authorize more spending. he said it is about congress paying off the bills that it's already incurred. >> that argument is the same one that white house used in 2011. it didn't sit well with house republicans then. they've been saying for years whatever the reality is at the white house and whatever the president tries to say they've been saying for years that the nation has a spending problem not a taxation problem. it's very difficult for them to reverse that. they see this as the popular option. one of their internal polls showed that 74% of americans believe in speaker boehner's approach and not the president's. so they're really not moving out of their corner. they're as far out as they can be on this. >> woodruff: carol lee, what is the white house preparing to do if republicans do what jake says they're going to do which is just say no? >> right now they're saying that there isn't a plan-b on those terms. the treasury has created a plan that basically could do certain things if congress didn't raise the debt ceiling it would prioritize some of its payments
FOX News
Jan 14, 2013 6:00am PST
future. bill: well a grim picture in the showdown over the debt ceiling about to get a bit more dismal. the white house has no plan b in the debt fight, challenging republicans to allow them to bore row more money or allow the country to default on its loans. 16 trillion in debt. getting higher by the clock. senator mike lee has a vote on this from utah. thank you for coming here. no backup plan according to the white house. in addition the treasury department says there is no plan b. what do you think about that? >> well, that's a problem. too often in washington we're faced between kind of a false choice. we're presented with a choice that says, okay, you either take no cuts at all and raise the debt limit, or you raise the debt limit with the promise of kits that may never transpire and that kind of cut simply won't cut it anymore. hard-working americans deserve better than this and all the programs they rely on are placed in jeopardy by reflexively raising the debt limit without putting in place permanent structural reform. bill: what do you think will happen? sometime about mid-fe
NBC
Jan 14, 2013 12:30am PST
resolution. i want you to take a listen to the president's spokesperson this week on the debt ceiling and get your reaction to that. >> sure. >> he will not negotiate with congress when it comes to the essential responsibility of congress to pay the bills that congress has incurred. >> what do you think? >> well, it's an interesting question. how does he not negotiate with congress if congress won't raise it, if the president doesn't do something like cut spending? so it's kind of an awkward sort of situation. and i think the troubling aspect for the markets is you basically have two objects here, republicans who say we won't raise the debt ceiling if you don't cut spending and a president who says, first of all, i'm not going to cut spending unless you also raise taxes and, by the way, i'm not going to negotiate on the debt ceiling. if past is pro log, i don't think the market or the private sector is going to pay attention to this until the last minute, which means sometimes in the first few weeks of february. >> do you think we will see spending cuts, and by the way, do you think we'll see even higher taxes, greg? >> well, i think we will but i don't think we're going to see it in the form of the grand bargain. i think that kind of both
NBC
Jan 14, 2013 6:00am PST
ceiling and now it's about the debt limit. >> we hit it in technically in december but in order to keep paying the bills the government delayed some payments so it looks like we'll hit that ceiling or that limit again in mid february. congress has got to do something about that. the house is back today. republicans are going to push for spending cuts. remember their mantra has been no more borrowing without limiting what we're spending and among spending cuts they are likely to look at social security this time. >> there's also some trouble on capitol hill ahead of chuck hagel's confirmation hearing. >> the confirmation hearings we have coming up at least three of them. chuck hagel could be the most difficult because democrats and republicans here have some challenges and lots of questions for him. still they say about the stance on iran and things he said about iraq and israel and whether he stands close enough with israel as ally. the white house is confident he'll be confirmed. it's not going to be an easy process. >> one month since the school shooting at sandy hook elementary in connecticut. vice presi
PBS
Jan 13, 2013 5:00pm PST
already said he will not negotiate on raising the debt ceiling. here's what he said. >> i will not have another debate with this congress over whether or not they should pay the bills that they've already racked up through the laws that they passed. let me repeat. we can't not pay bills that we've already incurred. >> and here's the response he got the next day from republican senator pat toomey of pennsylvania. >> our opportunity here is on the debt ceiling. the president's made it very clear; he doesn't even want to have a discussion about it, because he knows this is where we have leverage. we republicans need to be willing to tolerate a temporary partial government shutdown, which is what that could mean, and insist that we get off the road to greece, because that's the road we're on right now. we only can solve this problem by getting spending under control and restructuring the entitlement programs. there is no tax solution to this. it's a spending solution. and if this president doesn't want to go there, we're going to have to force it and we're going to have to force it over the debt ceiling. >> this is a guy walking into a crowded room and saying, "i have a bom
NBC
Jan 14, 2013 5:00am PST
hearings come up and then finally the debt ceiling. we pushed it off. we hit it in december. didn't pay a few bills to push that off until february. now as the house resumes today, congress must make some decisions. republicans will push for more spending cuts. this time we're told including social security. so a big agenda this week. >> all right. we'll see how it goes. thank you very much, tracie. >>> new this morning, japan airlines has grounded one of its boeing 787 dreamliners. the airline says it found a fuel leak during an inspection outside of tokyo yesterday. it is reportedly the same aircraft that had a fuel leak in boston last week. now it is the latest trouble surrounding the boeing 787. friday the u.s. government launched an investigation into the recent problems with that plane. >>> after spending more than a month in the hospital, former president george h.w. bush may get to leave as early as today. bush's son, former florida governor jeb bush, said his father is expected to be released from the hospital on monday. h.w. was first admitted on november 23rd for a bronchitis-like cough and
CNBC
Jan 14, 2013 5:00pm EST
fiscal cliff deal represented progress but urged congress to raise the debt ceiling, saying it gives the government the ability to pay its existing bills. he said, we think we're getting some effect in lowering interest rates but saying it was still early yet. saying we have found it can be an effective tool but we'll continue to assess how effective and saying that could change over time. this comes in context of a debate on the federal reserve over the effectiveness of the additional quantitative easing and some concern about the negative impact. the felt, d, he said, has the ability to undo the policies before inflation becomes a problem. and then he was asked about the federal reserve enabling congress to spend a lot of money because it buys the government's debt, but he said it's not up to the fed to play games and tell congress what it should and should not be doing on its spending. and he added that the federal reserve has to follow its dual mandate. he was asked about question about his personal and he said, i try to get a lot of sleep and then, melissa, talking about social media, in response to a very long question he was asked t
CNN
Jan 14, 2013 1:00pm PST
another crisis, right. this time of course it' over the debt ceiling. and it's going to be big, because it really reflects two different visions of what the debt ceiling is all about. for the president, you heard today, it's about paying your bill. going to a restaurant. picking up the tab for food you've already eaten. fine. >> very common sense, yes. >> very common sense. for republicans, it's about solving a problem. making a government that is too big, smaller and getting control of runaway spending on entitlements like social security and medicare and fixing a long-term problem. it's not just about paying the bills. it's about the future. >> right, but there are also a lot of political calculations in here. i assume they're very close to the political calculations we saw in the last crisis. >> yes, they are, although, you know, in the last crisis it was very clear that the president had the let me rverage. he had just won the election. he had won an election over the tax issue and the republicans lost over the tax issue. they're pushing that so far off the table that i don't even hear them talking about tax reform anymore. the president is making a gamble here, that the public will see the republicans as irresponsible and absurd,
CNBC
Jan 14, 2013 6:00am EST
here, is that even if we hit the debt ceiling, the government, as long as there's appropriations, will continue to gather up bills. and there are all kinds of legal statutes about if the government doesn't make a payment, and interest on those bills, and everything so that doesn't solve it. only when the appropriations run out and there's a second kind of debt ceiling showdown moment, which is the end of march when the continuing resolution runs out, and that's when they'll shut the government down and the government will stop incurring costs. so as long as there's appropriations, the government will continue to spend, and only shutting down the government stops the spending, and the accruing of debts, which, by the way, carries an interest rate that is probably going to be higher than what they would pay if they were issuing debt. >> hmm. >> story just by the way, or do you think it's real? >> i think everybody's being provocative. do i think my story is provocative in the sense of the administration saying all these other ideas, they're off the table. focus on solving the debt ceiling or putting the nation into defa
MSNBC
Jan 14, 2013 7:00am PST
ceiling. so, in other words, if i heard the congresswoman correctly, i think she was reflecting a sense among some people that you could shut down the government, stop paying some bills, pay other bills, pay interest on the debt, for instance, and we could kind of get through it that way. i think a lot of -- a lot of other republicans, a lot of conservatives, and almost all democrats think you can't do that. you can't fool around with this. you've got to do this clean. and i suspect boehner may feel that way and part of what might be happening here is a real factual argument about what will happen, you know, if we play this game, if we -- to use a metaphor the democrats like, if we shoot this hostage or at least wound the hostage. to some degree they're going to have to agree on the basic facts and what kind of game they're playing here. >> is that part of the complication here? is it really that, ed, we don't even have a ground rules yet. >> we don't. and i think that's what part of this meeting is designed to do this week is to lay it out, to educate the members a little bit about if we do x, y would happen, if we do a, b would happen. i was also struck by what p congre
CNBC
Jan 14, 2013 4:00am EST
shootings last month. >>> the debt ceiling dispute is heating up. the white house says congress can pay its bills or it can fail to act and put the nation into default. some reports suggest the government could run out of cash to pay all its bills as early as mid february. >> thanks for that. there's plenty to keep you entertained on our website. singapore is trying to cool a property market and find out if the city stands a chance. goldman sachs says it may delay tax et in the uk. >>> and after much confusion now in the last year, it remains amsterdam, at least, can enjoy watching the television. >>> comments between surrounding alarms. although i think it's been overplayed. we'll talk to that when we come back. >> with hotwire's low prices, i can afford to visit chicago for my first big race and l.a. for my best friend's wedding. because when hotels have unsold rooms, they use hotwire to fill them. so i got my hotels for half-price! >> men: ♪ h-o-t-w-i-r-e ♪ hotwire.com ♪ ♪ ♪ [ male announcer ] some day, your life will flash before your eyes. ♪ make it worth watching. ♪ the new 2013
CNBC
Jan 14, 2013 4:00pm EST
from the fiscal debate, the u.s. economy is not out of the woods yet. raising the debt ceiling, he said, gives the opportunity to spend now. like a family trying to raise its credit rating not deciding to pay bills. we think we're getting some effect in lowering interest rates but it's still early yet to tell. we have found qe to be an effective tool. we will continue to assess how effective. just before you came to me he was asked one of the criticisms. aren't the fed quantitative policies overspending by congress. the chairman saying it's not the fed's job to play games and make congress do what it should be doing on its own. >> he keeps saying this in so many words. you'd think people would get it at this point. thank you so much. >> you would think, yeah. >> steve leisman. president obama telling republicans to move quickly on the debt ceiling. jon harwood on the president's main theme at his news conference today. >> his main theme was to draw a brighter line with republicans in that fight over the debt ceiling. republicans saying we want dollar for dollar spending cuts. the president said i'll talk about spending decreases. but i'm not going to hold the u.s. economy hostage. here's the preside
FOX News
Jan 14, 2013 2:00pm PST
debt ceiling, you are right. but the point is that this money is money that congress passed and appropriated. the congress has to vote on the money. they vote on it. pay your bill. >> if you can't vote on a budget, how can you do that? >> bob: every dime was passed by the congress. >> andrea: first, democratically controlled. >> bob: for two years. >> andrea: he can't say i have no responsibility here. >> it's not realistic. >> the issue, he stood in front of the american people and said i'll do this. elected congress hands and let president obama, czar, king obama decide what to do for the whole country. by the way, for the kids, too. today is a snapshot in time and say we need to pay the bills. yes. but we don't need to run it up in the next 10 the 15 years. >> bob: it's much more dangerous to leave fair trade of the credit of the united states government in gutter if we don't raise the debt ceiling. he can, under a lot of legal con industry tutionm lawyers who believe that there is a way for him to do this without -- >> dana: imagine if president bush tried that? >> bob: stop comparing what would happen -- >> dana: why? why? >> bob: in this case he can do it and he
KRON
Jan 14, 2013 7:00am PST
. the debt ceiling is not a question of authorizing more spending. raising the debt ceiling does not authorize more spending. it simply allows the country to pay for spending that congress has already committed to. these are bills that are ready been racked up. we need to pay them. i am willing to compromise and find a common ground on how to reduce our deficit america cannot avoid another debate with this progress about whether or not they should pay the bills that they have already racked up. if congressional republicans refused to pay america's bills on time, so security checks and veterans' benefits will be delayed. we may not be able to pay our troops or on our contracts with small business owners. food inspectors, air traffic controllers, specialists who track down those of nuclear materials would not get their paychecks. the rest of the world would ask if the united states of america is in fact a stay at bat. market to go haywire and as rates could spike for anyone. it would be a self- inflicted wound on the economy. that would slow down our growth and tip into recession. ironically, it would increase our deficit. to even entertain the idea of this happening of the united states of america and not paying its
MSNBC
Jan 14, 2013 11:00am PST
the gun debate. first, on the rising debt ceiling, the president took direct aim at republicans accusing them of using the nation's credit rating as a, quote, bargaining chip. >> the republicans in congress had two choices here. they can act responsibly and pay america's bills or they can act irresponsibly and put america through another economic crisis. but they will not collect our ransom in exchange for not crashing the american economy. the issue here is whether or not america pays its bills. we are not a deadbeat nation. >> and the debate over guns, one month after 26 children and adults were killed in newtown, and with the nra saying assault weapon ban would not pass congress, the president urged house members to, quote, examine their own conscience. >> the belief that we have to have stronger background checks, that we can do a much better job in terms of keeping these magazine clips with high capacity out of the hands of folks who shouldn't have them, an assault weapons ban that's meaningful, that those are things i continue to believe make sense. will all of them get through this congress? i don't know. >> and joining me live now, democratic congresswoman jackie spear of california, vice chair of the new gun violence task force. congresswoman, thank y
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